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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−53.38%
7d Period Avg+1.61%
swing±6.25%
LONG Lighter Robinhood · nowAAPL-USDG
+3.51%
7d avg:+3.51%
SHORT Ondo · nowAAPL-USD.P
−49.88%
7d avg:+5.12%
Entry Spread Now
−0.103%
Against youL ask 339.6000 · S bid 339.2500−$10.31 at entry
24h range −0.10%…−0.02% · median −0.06%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.035%
Loading Funding History…
↗Total PnL
−$12.05
−0.12%
$Avg Daily PnL
+$0.44
+0.0044%
★Best Day
+$1.14
Sep 21
◎Open Interest
Lighter Robinhood$2.20M
Ondo$1.48M⚡Funding APR
+1.61%
annualized · funding only
⚠Execution Cost
−$15.14
entry + exit fees
⏱Payback
1.1mo
to break even
◧24h Volume
Lighter Robinhood$5.36MOndo$309.9KLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$15.14 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.